Close X
Monday, November 11, 2024
ADVT 
National

Canada, India to relaunch CEPA trade talks: Ng

Darpan News Desk The Canadian Press, 11 Mar, 2022 01:24 PM
  • Canada, India to relaunch CEPA trade talks: Ng

International Trade Minister Mary Ng says Canada and India have agreed to resume long-standing efforts toward a comprehensive trade deal.

Following meetings in New Delhi with her Indian counterpart, Shri Piyush Goyal, Ng says the two countries will pursue an "early progress" agreement as an initial step.

She says that would provide a framework for the Comprehensive Economic Partnership Agreement, or CEPA, a bilateral deal the two countries have been talking about since 2008.

The goals include high-level commitments in goods and services, establishing rules of origin, eliminating technical barriers to trade and setting up a dispute settlement mechanism.

The government of Indian Prime Minister Narendra Modi has implemented a number of policy and structural changes in recent years that have helped open the door to international investment.

In a joint statement, the two countries say two-way trade has bounced back in a big way from the COVID-19 pandemic, reaching US$6.29 billion in 2021, 12 per cent higher than the previous year.

They hope to fortify trade and commercial ties in key areas, such as agricultural products, chemicals, automobiles, energy, electronics and minerals and metals.

Ng and Goyal also agreed to "intensified work" on recognizing how Canada approaches pest risk management in pulses, a major export that comprises a staple of the Indian diet.

Pulse crops like lentils and peas account for more than 95 per cent of Canadian agri-food exports to India, which in recent years has imposed tariffs on foreign imports and enforced pest control more stringently as it sought to boost domestic production.

Canada does not fumigate pulse exports to India and has long sought an exemption from rules that require crops to be fumigated before arriving in the country.

"Canada welcomed India's consideration to allow the import of pulses without penalty in case of fumigation on arrival by methyl bromide until finalization of a systems approach for Canadian pulses," the joint statement read.

Goldy Hyder, CEO of the Business Council of Canada, said news of renewed trade talks is a welcome development for the Canadian economy.

"Simply put, there is no path to a successful Indo-Pacific strategy without going through India – projected to soon become the world's most populous country with one of the fastest growing economies," Hyder said in a statement.

"Many of Canada's competitors are moving quickly to enhance trade ties, including in the near term, to ensure their businesses have a clear advantage in this critical market. With today’s announcement, Canada is well-positioned to be one of the first advanced economies to secure an agreement with India."

MORE National ARTICLES

Charges laid for double murder that claimed the life of a 15 year old male

Charges laid for double murder that claimed the life of a 15 year old male
Wong was a young athlete and a promising student on the night of January 13, 2018, when he was struck by a stray bullet while riding in the back of his parents’ car. He was critically injured and died days later in hospital. Whiteside was also killed in the shooting.

Charges laid for double murder that claimed the life of a 15 year old male

Man caught exposing and touching himself near a Surrey school

Man caught exposing and touching himself near a Surrey school
All incidents occurred in the morning between 8:20 to 8:30 a.m. The suspect is described as South Asian, 30-40 years old, medium complexion, dark hair, 5’10, average build, with facial stubble and a moustache.  

Man caught exposing and touching himself near a Surrey school

Anti-lockdown MPP to run for Tory leadership

Anti-lockdown MPP to run for Tory leadership
Roman Baber will launch his campaign Wednesday evening, and says he considers himself to be the underdog in the party's contest, competing against well-known federal Conservatives like Pierre Poilievre and Leslyn Lewis. Former Quebec premier Jean Charest is also planning to enter the race Thursday.    

Anti-lockdown MPP to run for Tory leadership

Biden's billion-dollar cleanup pledge puts Great Lakes back in environment limelight

Biden's billion-dollar cleanup pledge puts Great Lakes back in environment limelight
More than three decades later, North America's single largest source of freshwater is back in the public spotlight, this time for seemingly all the right reasons — thanks, at least in part, to the political woes of a certain U.S. president.

Biden's billion-dollar cleanup pledge puts Great Lakes back in environment limelight

Trudeau calls for recommitment to democracy

Trudeau calls for recommitment to democracy
Canada previously said it was shipping non-lethal equipment such as body vests and helmets, as well as more than $10 million in weapons such as machine-guns, rocket launchers and hand grenades. Trudeau acknowledged getting the equipment into Ukraine has not been easy.    

Trudeau calls for recommitment to democracy

B.C. coroner to release report on overdose deaths

B.C. coroner to release report on overdose deaths
A statement from the coroner's office says the panel reviewed 6,000 deaths from toxic illicit drugs between 2017 and 2021. There were 2,224 suspected overdose deaths in the province last year, which was a 26 per cent jump over the previous year.

B.C. coroner to release report on overdose deaths